Most Popular Lending Content
Force Placed Insurance Notification: Is certified mail required?
05/20/2002
If a lender force places hazard insurance, are there any state or federal regulations that the policy and the disclosure letter be sent by certified mail? Are there any court cases which have established a precedent or would leave a lender exposed to litigation if the policy and the disclosure were not sent by certified mail?
Are W-9s required for all loan customers?
05/20/2002
Are we required to obtain a W-9 on our loan customers. Our data processing company issues a TIN missing or not certified exception on a number of our loan customers. I'm unclear on how to deal with these exceptions.
If a broker changes lending companies, are new RESPA disclosures required?
05/20/2002
If at any time during the loan process the broker changes lending companies, do new RESPA disclosures need to be re-signed by the borrower or will the initial disclosures be suffice as long as the fees on the GFE are similar and generic?
Selling Repossessed Vehicles To Employees
05/20/2002
We have a couple reposessed vehicles and a couple of employees are interested in buying them from the bank. Is there any certain procedures or regs that we need to be aware of? They will be paying the price we are offering the vehicles to the public.
Homeowner Counseling Clarification
05/13/2002